Sovcombank organized the first issue of debt digital financial assets (CFA) issued by Sovcombank Factoring LLC (part of the Sovcombank Group). This is stated in the bank's message.
The issue of 1 million rubles was held on the Atomize platform. The placement price is 100% of the nominal value (1,000 rubles), the interest rate is 10% per annum, the circulation period is 3 months. The collection of applications took place from May 19 to May 23, 2023. among an unlimited circle of investors.
The pilot placement allowed testing the technological capabilities of the new mechanism, as well as assessing potential demand. The CFA can become an effective complement to the available instruments on the capital market. In the coming year, it is expected to scale up the use of CFA for issuers from various sectors of the economy.
Sovcombank initiated the use of the CFA mechanism, outpacing the growing demand of corporate clients for the expansion of financing instruments. Compared with a classic bond issue, CFAs have advantages such as the speed of issuance, which is ensured by eliminating many intermediaries, as well as the absence of complex documentation. According to the participants of the transaction, this will allow more companies to enter the market, including from the SME segment.
